Quarry LP Sells 663 Shares of Freshworks Inc. (NASDAQ:FRSH)

Quarry LP decreased its position in Freshworks Inc. (NASDAQ:FRSH) by 15.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,660 shares of the company’s stock after selling 663 shares during the period. Quarry LP’s holdings in Freshworks were worth $42,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of Freshworks by 7.6% in the second quarter. Renaissance Technologies LLC now owns 3,134,600 shares of the company’s stock worth $39,778,000 after purchasing an additional 221,900 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Freshworks by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,428,755 shares of the company’s stock worth $30,821,000 after purchasing an additional 239,671 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Freshworks by 35.9% in the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock worth $20,164,000 after purchasing an additional 420,135 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Freshworks by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company’s stock worth $17,872,000 after purchasing an additional 24,558 shares during the last quarter. Finally, M&G PLC bought a new position in shares of Freshworks in the third quarter worth approximately $9,094,000. Institutional investors own 75.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FRSH. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a report on Thursday, November 7th. Robert W. Baird dropped their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JMP Securities raised their price target on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.

Insider Transactions at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the completion of the transaction, the director now owns 23,497 shares of the company’s stock, valued at $286,428.43. The trade was a 26.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the transaction, the director now directly owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,565 shares of company stock valued at $247,869 in the last quarter. 19.15% of the stock is owned by insiders.

Freshworks Trading Down 2.4 %

Shares of Freshworks stock opened at $16.41 on Wednesday. The business has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $12.73. The firm has a market capitalization of $4.97 billion, a P/E ratio of -48.26 and a beta of 0.90. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $24.98.

Freshworks Profile

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.